Primary Health Properties PLC (PHPRF) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Primary Health Properties PLC $2.32, price $1.22, upside +90.2%, quality 30 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? Yes
- Good quality? No
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Primary Health Properties PLC
PHPRF · USCheap, value-trap riskThe stock looks deeply undervalued, but low quality raises value-trap risk.
What runs behind every stock
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range $0.9099 – $1.52 · fair‑value band $1.40 – $4.64 · the $1.22 price screens below the $2.32 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
Company profile
Primary Health Properties PLC (PHP) is a UK Real Estate Investment Trust and leading investor in modern primary healthcare premises. We invest in flexible, modern properties for local primary healthcare. The overall objective of the group is to create progressive returns to shareholders through a combination of earnings growth and capital appreciation.
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Primary Health Properties PLC (PHP) is a UK Real Estate Investment Trust and leading investor in modern primary healthcare premises. We invest in flexible, modern properties for local primary healthcare. The overall objective of the group is to create progressive returns to shareholders through a combination of earnings growth and capital appreciation. To achieve this, PHP invests in healthcare real estate let on long-term leases, backed by secure underlying covenants where the majority of rental income is funded directly or indirectly by a government body. Primary Health Properties Plc was incorporated in 1994 in United Kingdom.
Stock analysis
Primary Health Properties PLC (PHPRF) currently trades at $1.22, while our model-based Fair Value estimate is $2.32, implying the stock looks roughly 47.4% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $2.21 per share, and 10 of the 16 models we run sit above the $1.22 price.
Bear case: the Asset-Based group reads lowest at $0.8700, and 6 of the 16 models stay below the price. Evidence for this calculation is high.
Scenario range: $1.40 (bear) to $4.64 (bull), the price of $1.22 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 30/100 (below-average quality), in the Real Estate sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Primary Health Properties PLC reported revenue of £259M in FY2025 versus £223M in FY2021, a compound +3.8%/yr. Reported net income was £119M in FY2025, compounding −4.0%/yr from FY2021.
Key figures
Market cap $3.4B · P/E ratio 13.6 · P/S ratio 6.23 · EPS (TTM) $0.0900 · Dividend yield 5.8% · Net margin 45.9% · Return on equity 6.1% · Return on assets (EBIT) 3.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 46 out of 100 (low confidence).
What moves the price
The share trades about 14% below its 52-week high and 13% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at 6% fair-value upside, at 90%, PHPRF screens cheaper than that median.
Fair Value models
All 16 models by family
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Set up alert →Quality Score breakdown
Of which business quality 34 · Market factors (momentum, volatility) 49
Revenue & earnings trend
Growth Forecast
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Compare Primary Health Properties PLC with another stock
Price, fair value, quality and upside side by side.
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.REIT - Healthcare Facilities · 25 stocks
Valuation Multiplesvs REIT - Healthcare Facilities median · lower = cheaper
Context: sector, industry, market
- Is the Real Estate sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: Real Estate
- Undervalued stocks: US Stocks
- Valuation of the USA market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more REIT - Healthcare Facilities stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Welltower Inc WELL | $230.24 | $74.85 | −67% |
| Ventas, Inc VTR | $86.59 | $34.57 | −60% |
| Omega Healthcare Investors, Inc OHI | $46.68 | $57.16 | +22% |
| Healthpeak Properties, Inc DOC | $19.44 | $16.01 | −18% |
| American Healthcare REIT, Inc AHR | $52.02 | $15.32 | −71% |
| CareTrust REIT, Inc CTRE | $37.42 | $39.79 | +6% |
| Healthcare Realty Trust Incorporated HR | $18.05 | $20.82 | +15% |
| Aedifica NV AED | €64.50 | €59.72 | −7% |
| Sabra Health Care REIT, Inc SBRA | $19.85 | $22.26 | +12% |
| National Health Investors, Inc NHI | $66.66 | $70.75 | +6% |
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Frequently asked questions
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Key figures of Primary Health Properties PLC
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